RNS Announcements

Admission to trading on AQSE and first day of dealings

31 March 2022

ProBiotix Health plc (AQSE: PBX), a life sciences business developing probiotics to tackle cardiovascular disease and other lifestyle conditions, announces that 121,666,666 ordinary shares of 0.05p each in the Company (”Ordinary Shares”) are today being admitted to trading on the Access Segment of the AQSE Growth Market (“Admission”).

In connection with Admission, ProBiotix Health has raised £2.5 million through a placing and subscription of 11,904,762 Ordinary Shares at a price of 21p per share.

The Directors of ProBiotix Health believe that an investment in the Company represents an opportunity to invest in an innovative technology that is underpinned by a significant portfolio of Intellectual Property Rights, supported by an experienced board, and applicable to a range of markets.

Key information:

  • ProBiotix Health is the holding company of ProBiotix Limited (“ProBiotix”).
  • ProBiotix was established by AIM-listed OptiBiotix Health plc (“OptiBiotix”), a global leader in microbiome modulating compounds for use in functional foods and supplements, to develop probiotics to tackle cardiovascular disease and other lifestyle conditions.
  • The Company’s strategy is to develop next-generation microbiome solutions for a wide range of health conditions and to deliver commercially successful products supported by a strong scientific evidence base.
  • Since its creation, ProBiotix has made considerable progress and has successfully transitioned from a research and development specialist into a profitable commercial organisation whose products are being commercialised in over 60 countries.
  • Human volunteer studies have shown that ProBiotix’s principal product, Lactobacillus plantarum ECGC13110402 (“LP-LDL®”), can reduce key cardiovascular risk markers, such as total cholesterol, LDL (bad) cholesterol, and Apolipo protein B, by up to 34.2 per cent, 28.4 per cent and 28.6 per cent respectively.
  • ProBiotix commercialises LP-LDL® as an ingredient and in a range of white and own label products under its CholBiome® range.
  • The CholBiome® portfolio currently comprises four products, which can either be sold under the CholBiome® brand or private label:
  • CholBiome® 
    Contains LP-LDL® as the only active ingredient, to focus on healthy cholesterol maintenance and deliver tangible health benefits.
  • CholBiome®X3 
    A cholesterol-reducing formula that combines three targeted ingredients into a triple-layer tablet. It consists of LP-LDL®, Monacolin K from red yeast rice, and Vitamin B3 (niacin) to deliver a tri-factor approach that utilises synergistic mechanisms of action to reduce cholesterol and aid overall cardiovascular health.
  • CholBiome®BP
    A blood pressure reducing formula that combines four science-backed natural ingredients, LP-LDL® Thiamine (Vitamin B1), L-arginine and CoEnzyme Q10, to provide a multi-targeted mechanism approach for aiding hypertension and improving cardiovascular health.
  • CholBiome®VH 
    A vascular health formula that combines three specialised ingredients in a triple layer tablet. Consisting of LP-LDL® Thiamine and Vitamin K2 Vital (from Kappa Bioscience) to provide a multi-targeted mechanism to work against the build-up of lipid and calcium deposits in the blood vessels.
  • In February 2019, LP-LDL® was designated Generally Recognized As Safe ("GRAS") by an independent Expert GRAS Panel in the United States, which extends its applications from use as a supplement to use as a functional ingredient in a wide range of food, dairy, and beverage products in the USA.
  • ProBiotix currently has 27 registered patents to its name and will continue to expand its IP portfolio as it expands its application areas and territories.
  • On 28 February 2022, OptiBiotix announced that preliminary unaudited results for ProBiotix for the year ended 31 December 2021, indicated total sales of £1.1 million.
  • Following a distribution in specie of Ordinary Shares to its shareholders, OptiBiotix remains interested in 53,533,333 Ordinary Shares, representing approximately 44% of the Company’s issued share capital.

Peterhouse Capital Limited is acting as the Aquis Stock Exchange Corporate Adviser and Broker.

Stephen O’Hara, CEO of Probiotix Health plc commented: “We are very pleased with the level of interest generated from new investors in support of our admission to trading on AQSE. This IPO represents a landmark moment for Probiotix as an independent company in its own right and will enable our business to continue to grow as we expand our territories and product range into dairy and pharma.

“The global probiotics market was estimated to be valued at USD 61.1 billion in 2021 and is projected to reach USD 91.1 billion by 2026. The growth is expected to be driven by the increasing consumer inclination towards preventive healthcare in conjunction with the development of safe and effective probiotic strains and we are well placed to take advantage of this.”

Directors and Key Management

The Directors of the Company are as follows:

Adam Reynolds – Non-executive Chairman (aged 59)

Adam began his career in the City in 1980 and in 2000 established his own PR/IR/Corporate finance firm which listed on AIM in November 2000 and was then later sold in 2004 via a reverse takeover.

He was approached in 2005 to become non-executive Chairman of International Brand Licensing Plc (“IBL”). The company at this time had substantial debt and the remit was to turn it around. Following the sale of a number of global sports IP assets, IBL became a cash shell. In 2009 Adam introduced David Evans and Julian Baines, two leading diagnostic specialists in the UK, to the company and the Plc changed direction. That business is today called EKF Diagnostic Holdings Plc, and Adam remains a non-executive director and shareholder.

In November 2012, Adam launched a successful agreed bid for the trading assets and business of Autoclenz Plc alongside its management team. Adam remains a director and shareholder.

In addition, Adam is currently non-executive Chairman of AIM-quoted Belluscura plc, Yourgene Health Plc and MyHealthChecked Plc, and a non-executive director of Sosandar Plc.

Stephen O’Hara – Chief Executive Officer (aged 61)

Stephen trained as a microbiologist and has over 50 publications, 70 plus patents, and chapters in a number of books. Whilst a scientist by training, Stephen is at heart an entrepreneur with a track record of success in identifying opportunities, raising finance, commercialising products and taking companies to exit by IPO or trade sale. Stephen has built several businesses and was a founder of Acolyte Biomedica which he exited to 3M Healthcare in 2007 (at a 32x multiple) whereupon he became Director of Healthcare at 3M.

Stephen has been a director of an investment company and is frequently asked to advise on potential investments by institutional investors.

Stephen founded OptiBiotix in May 2012, SkinBiotherapeutics plc in 2015 (initially as a joint venture with the University of Manchester) and ProBiotix in 2018, to commercialise opportunities in the immature but evolving microbiome field. Stephen listed OptiBiotix on AIM in August 2014 and SkinBiotherapeutics plc in April 2017.

Mikkel Hvid-Hansen – Commercial Director (aged 53)

Prior to joining ProBiotix, Mikkel was International Sales Manager for Cell Biotech Int., a Korean probiotic company selling bulk ingredients and finished products internationally.

Mikkel previously spent six years as International Sales Manager at Bifodan, where he had responsibility for the sales of several probiotic OTC drugs. Previously, Mikkel also worked for Lallemand, the world's third largest probiotic company (1998-2006) and Eraco (1995-1998). Mikkel has extensive experience of commercialising probiotics products and technologies, a wide network of industry contacts, and a strong track record of rapidly growing sales.

Marco Caspani – Independent Non-executive Director (aged 47)

Marco has been working in the health ingredients industry for more than 18 years. With a degree in food science, Marco has an international network of connections with Industry leaders. Marco joined CSL in 2012, who are recognised as global leaders in the development and production of strains for the food and pharmaceutical Industries.

Key Management

The Company’s finance function will be the responsibility of Mark Collingbourne, who is currently the Chief Finance Officer at OptiBiotix.

Mark Collingbourne – Chief Finance Officer

Mark is a qualified accountant with significant experience in financial management, particularly in the area of publicly quoted companies. He is currently Chief Finance Officer at OptiBiotix and Intuitive Investments Group plc. He has dealt with all aspects of PLC development from bringing small companies to flotation to supervising the on-going accountancy and ensuring the good governance of international businesses. During his ten-year tenure with ViaLogy plc (now Yourgene Health plc), Mark was a key member of the team that arranged its transformation from a private US organisation to an AIM company, via a merger with Original Investments PLC. He also played a major part in arranging the financial details of ViaLogy's restructuring. Previously, after periods with ITV Network Centre and Mechanical Copyright Protection Society Limited, Mark was appointed Finance Director of Curtis Brown Group Limited, one of the UK's leading literary agencies, in 1996, where he managed the financial implications of the management buyout in 2001.

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, ProBiotix Health has 121,666,666 Ordinary Shares in issue. This figure of 121,666,666 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.


For further information, please contact:

Probiotix Health plc Contact via Walbrook below
Stephen O’Hara, Chief Executive 
Peterhouse Capital Limited Tel: 020 7469 0930
Mark Anwyl (AQSE Corporate Adviser)  
Duncan Vasey (Broker)  
Walbrook PR Ltd Mob: 07876 741 001 or [email protected]
Anna Dunphy  


About ProBiotix Health plc

ProBiotix Health develops probiotics (live microbes that, when ingested, can alter the composition of the microbiome and improve human health) to tackle cardiovascular disease and other lifestyle conditions which are affecting growing numbers of people across the world.

ProBiotix Health’s cholesterol reducing probiotic, Lactobacillus plantarum ECGC13110402 (“LP-LDL®), is manufactured in pharmaceutical GMP-certified facilities and protected worldwide by in the region of 5 patent families, comprising 27 patents and pending patent applications, and 22 trademarks.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.